What is an appropriate late fee?
What is an appropriate late fee? A standard late fee for invoices that are overdue is between 1% and 2% monthly. Flat rate fees should depend on how much you typically charge customers. You can charge late invoice payments either as an interest rate, a flat fee, or both.
Are late fees negotiable?
In some cases, a customer may try to negotiate for a refund of the late fee. If they've only been one or two days late, for example, it's reasonable to accept it to remain in good standing. Your deductions will depend on your agreement with your customer.